Cable Update (GBPUSD)

Why would the $ not go up a good bit. Wasn't the news very good for the dollar/ Man!, I have alot to learn. I am loosing pips quick.

Where are we going?

Up / Down ?

ok ...now i know whats happening to me..emotional scared from 2 weeks back ...breaking all the supports..and me thinking this is still the case...im seeing lines are being respected and now i think im getting my confidence back!..


USDX as expected is bearish....dollar will lose strength...

Dow Jones

dont get fool by this cable.
it might drop again later after testing the resistance 1.8387.

i say possible up to 1.8420 then way down at 1.82

smart recovery off post data lows beyond immediate pre-data release levels, and no post data selling follow thru suggests not I would argue, intraday remains rangy whilst below 8395-8417 area, arguably with a bullish tone now

to be honest...its 100% gambling ..US comes out with great figure and cable goes up..u have to paranormal not to lose in forex..

just kidding

Nav, you better lose your longs my man before it heads back down for no return

Hey Partner,
-and all Watch for trying to figure the market out. Thanks to Gustav,
Oil's a climbing with Hurricane partys beginning to be planned.
GU, She's a climbing with it. 8400 for now's respected though.

-Look past the news it makes/will make no sense.

Hang in there & go where the markets going. For now it's ping pong!

i see weekly pivot as a place to dump the long then tight stops for the short, then if it goes wrong then im out of trade..if it sinks b4 seeing pivot ....i will have too wait for a reversal on monthly..to get out...or weekly..

-No,
You're right Navin, that's what i'm going back to...
It is a gamble!

I/"WE", don't HAVE to be right, it's our best guess on the edge we got.
If it don't work, there simply weren't enough buyers or sellers,
willing to push it further either way.

For now,
I think OIL is propping this baby up today, right now.
We'll see what the stock market brings, and I F GU seperates
herself from it.
Best of Luck,

Jeff !

Truth is, no one knows, but that's ok, cause you don't have to ...this is the 15min since late asian session.

lol nice chart

Hi,

Just wanted to share my interpretation of the news.

Good release for US right, so currency should get stronger, but why?

Better economy means people spend more which includes the imports, if people spend more on imports they have to sell dollars to purchase them so dollar will get weaker.

Better economy - more people buying luxuries such as gold ( therefore im bullish on gold) and well they can afford to spend more on petrol, that together with hurricane should push oil prices up.

And besides dollar rose so much already, isnt it time for a decent pullback anyways - that's just technician talking in me

Well thats my interpretation of whats happening, although it may not necessarily prove to be correct in the very short term, i think in longer term it can be the case.

cudos!

what i c... cable stuck underneath trendline resistance, range market as per bbmc posts.

...

arch dove blanchflower on wires saying shortsighted on inflation expectations, interest rates will have to fall in uk fast and hard to stop recession

caused last spike down to 40

10:09 08/28 BOE BLANCHFLOWER: JOBLESS COULD HIT 2 MILLION BY YEAR END
10:09 08/28 BOE BLANCHFLOWER: SEES SEVERAL QUARTERS OF ECON. CONTRACTION
10:08 08/28 BOE BLANCHFLOWER ON REUTERS: NEED SUBSTANTIAL INT. RATE FALL

BOE Blanchflower: Substantial Fall in Interest Rates Needed Aug 28 / 10:21


--BOE Blanchflower: Jobless Could Hit 2 Million By Year End

LONDON (MNI) - Arch Bank of England Monetary Policy Committee dove
David Blanchflower restated his arguments for rate cuts in an interview
with Reuters published Thursday, and indicated he may now favour an
immediate reduction of more than 25 basis points.

Blanchflower reprised the case for not placing much weight on
elevated inflation expectations, and argued the MPC had to get "ahead of
the curve" in setting rates.

"To sit and worry about inflation expectations and what is going to
happen to those, rather than worry about the fact that the economy is
going to go into a recession, seems to be misguided," Blanchflower said.

He made the case for aggressive policy easing.

"I've obviously voted on quite a number of occassions now for small
cuts but we need to act and we probably need to act in larger amounts
than that. We need to actually get ahead of the game and it appears that
we are now behind," he said.

market reacting to the uber-dove blanchflower (BOE/mpc member) accordingly selling £ off that i/day resistance area down to current i/day lows, lol.